Not quite, no....

• Hedge fund investors placed short sells for MORE than 100% of the company's shares. Approx ~200**% of shares at one point. As you can imagine, this is mathematically improbable and also illegal.
• They did this thinking that due to the issues with brick and mortar and COVID, the biz would eventually go bankrupt and thus, they wouldn't lose a dime.
• , r/WallStreetBets realized this enormous amount of shorting existed. They realized that if they decided to continue buying, they'd effectively controll the supply of the GameStop shares in circulation.
• Now in order to cover their short sells, the banks/HFs need to buy those shares back to cover the obligations of the short-sell bet they have made.
• The Redditors are refusing to sell. They have complete control of the price at which the HFs can close their short sells because they control a huge majority of the shares. If they hold > price continues to rise > HFs can't buy back enough to cover the interest costs of their shorts.

Not quite, no....

• Hedge fund investors placed short sells for MORE than 100% of the company's shares. Approx ~200**% of shares at one point. As you can imagine, this is mathematically improbable and also illegal.
• They did this thinking that due to the issues with brick and mortar and COVID, the biz would eventually go bankrupt and thus, they wouldn't lose a dime.
• , r/WallStreetBets realized that themselves + retail investors + whales effectively controlled the supply of all GameStop shares in circulation.
• Now in order to cover their short sells, the banks/HFs need to buy those shares back to cover the obligations of the short-sell bet they have made.
• The Redditors are refusing to sell. They have complete control of the price at which the HFs can close their short sells because they control a huge majority of the shares. If they hold > price continues to rise > HFs can't buy back enough to cover the interest costs of their shorts.

Not quite, no....

• Hedge fund investors placed short sells for MORE than 100% of the company's shares. Approx ~200**% of shares at one point. As you can imagine, this is mathematically improbable and also illegal.
• They did this thinking that due to the issues with brick and mortar and COVID, the biz would eventually go bankrupt and a bailout would be imminent.
• , r/WallStreetBets realized that themselves + retail investors + whales effectively controlled the supply of all GameStop shares in circulation.
• Now in order to cover their short sells, the banks/HFs need to buy those shares back to cover the obligations of the short-sell bet they have made.
• The Redditors are refusing to sell. They have complete control of the price at which the HFs can close their short sells because they control a huge majority of the shares. If they hold > price continues to rise > HFs can't buy back enough to cover the interest costs of their shorts.

Not quite, no....

• Hedge fund investors placed short sells for MORE than 100% of the company's shares. Approx ~163% of shares at one point. As you can imagine, this is mathematically improbable and also illegal.

• They did this thinking that due to the issues with brick and mortar and COVID, the biz would eventually go bankrupt and a bailout would be imminent.

• , r/WallStreetBets realized that themselves + retail investors + whales effectively controlled the supply of all GameStop shares in circulation.

• Now in order to cover their short sells, the banks/HFs need to buy those shares back to cover the obligations of the short-sell bet they have made.

• The Redditors are refusing to sell. They have complete control of the price at which the HFs can close their short sells because they control a huge majority of the shares. If they hold > price continues to rise > HFs can't buy back enough to cover the interest costs of their shorts.